The Bochum-based real estate group announced today that, following the rent increase at the beginning of the year, it intends to raise rents again for the Group’s 500,000 managed residential units due to the highly inflationary environment. How should the share be classified from a chart perspective?
Feast in bear hands
Since interest rates in Europe and the USA have started to rise, the share price has only known one direction: southward. Most recently, the DAX40-listed stock even tore a major downward gap, which it has not yet been possible to close again.
This gap – in the area of the much observed EMA50 in the daily chart (around EUR 37.70) is then also the decisive short-term resistance in the daily chart. There will only be relief for the buyer side above this resistance zone. Until then, the DAX40 share will remain firmly in bearish hands, and new annual lows in the area of the EUR 30 mark must definitely be planned here. Recoveries towards EUR 37 to 38 would therefore be considered as renewed selling opportunities.